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08/22/2024
ASAE Releases Associations’ Economic Impact Study
The study was released August 12
On August 12, 2024, during the American Society of Association Executives' (ASAE) Annual Meeting in Cleveland, ASAE released the most definitive research on associations to date, quantifying the massive economic impact our community generates in every state.
By the numbers: ASAE partnered with Oxford Economics, the world's foremost independent economic advisory firm, in a study of 20,000 associations to capture the economic impact of the sector. The study shows:
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Associations are a vital component of America’s job market, directly supporting 1.1 million jobs and providing $71.4 billion in wages throughout all 50 states.
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Association events inject significant revenue into state and local economies, creating a ripple effect that benefits a diverse range of businesses. More than 272,000 events attract nearly 52 million participants support 342,000 jobs and generate $42 billion in spending in communities nationwide every year.
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Associations and their events generate critical tax revenue for every level of government, helping to fund infrastructure, education, and public safety. Each year, associations pay almost $28 billion in federal, state, and local taxes – and events generate an additional $7.5 billion in taxes to state and local governments.
Go deeper: For more details about the study and to see an interactive map with state-specific association economic impact data, please visit Resources – The Power of Associations.
This article was provided to OSAP by ASAE's Power of Associations and Inroads.
